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Dec 4, 2012
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ot mixed reports on the economy. tom just talked about that weak data showing businesses contracting. and we're also getting warnings on weak corporate profits. so doesn't this give you pause about buying in this market right now? >> i think, i just got back from two weeks in europe speaking to portfolio managers in seven different countries. they are profoundly underinvestmented in the u.s. the endowment funds in this country are profoundly underinvested in u.s. equities. a lot of portfolio managers are hoping equities go down as measured by the s&p so their underperformance doesn't look as bad. if the market doesn't go down here i think they will be forced to chase not end of the year. >> susie: uh-huh. beyond stocks, give us your thoughts on bonds, on gold, and other commodities. >> i think gold is in a secular bull market. i think it's just been consolidating the big run it has had and will eventually go higher. bons i think with the re-election of president obama it pretty much insurances you will have low-inter
ot mixed reports on the economy. tom just talked about that weak data showing businesses contracting. and we're also getting warnings on weak corporate profits. so doesn't this give you pause about buying in this market right now? >> i think, i just got back from two weeks in europe speaking to portfolio managers in seven different countries. they are profoundly underinvestmented in the u.s. the endowment funds in this country are profoundly underinvested in u.s. equities. a lot of...
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Dec 5, 2012
12/12
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would that help the economy more? >> i think that's the exact point, that everybody, small businesses and big businesses are going to have different preferences for exactly how you fix the tax code, but the message they're delivering is a fix in and of itself that is real, and that would fix the problem, would be so beneficial for them. >> are we going to fix the problem? are we going ove over the cliff? >> this is coming down to the wire. i feel more pessimistic that i have before. the level of negotiating may in part be for show, but i'm terribly concerned that they're not at the point where they're really working to solve the problem for the good of the country and put the partisan differences aside. they're going to have to do that to get to a deal and time is running out. >> your group and groups like them have come under criticism and other progress siveprogressives who sr group is a privileged group, and i wanted to give you a chance to respond to that. >> i'm stunned every time i see that. one, paul has were a
would that help the economy more? >> i think that's the exact point, that everybody, small businesses and big businesses are going to have different preferences for exactly how you fix the tax code, but the message they're delivering is a fix in and of itself that is real, and that would fix the problem, would be so beneficial for them. >> are we going to fix the problem? are we going ove over the cliff? >> this is coming down to the wire. i feel more pessimistic that i have...
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Dec 5, 2012
12/12
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what will you be saying at the start of the year about the outlook for the economy and jobs. >> a lot of people are focused on the january 1st deadline. we don't think if we don't have an agreement by january 1st that everything falls apart. what we're watching very closely is if there is still negotiating taking place. if we still see both sides talk, i don't think the january 1st deadline is going to mean that much. we would only worry about the worst-case scenario with the economy contracting if there is a real stalemate and both parties walk away from the talks. we don't expect that. we're beginning to see some signs there is some willingness to compromise on both parties. >> susie: as we said from the start, you're pretty positive on the tlok.o gary thayer of wells fargo advisor. >> susie: los angeles and long beach port workers were back at work today, ending a costly eight-day strike. the ports were crippled after clerical workers went on strike and were supported by the longshoreman's union, which refused to cross the picket line. the shutdown cost $1 billion a day. the work s
what will you be saying at the start of the year about the outlook for the economy and jobs. >> a lot of people are focused on the january 1st deadline. we don't think if we don't have an agreement by january 1st that everything falls apart. what we're watching very closely is if there is still negotiating taking place. if we still see both sides talk, i don't think the january 1st deadline is going to mean that much. we would only worry about the worst-case scenario with the economy...
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Dec 6, 2012
12/12
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president obama tries to win over top business leaders, warning republicans are holding the global economy hostage over the fiscal cliff. >> susie: and apple shares get of the most widely owned stocks sees heavy trading. >> tom: that and more tonight on "n.b.r." >> susie: big job cuts today at one of the nation's biggest banks. citigroup announced it's slashing 4% of its staff; that works out to 11,000 jobs worldwide. the cuts will save the bank more than $1 billion a year in expenses. but they won't be cheap, resulting in a billion-dollar charge against fourth-quarter earnings. is this gloomy news from citi the beginning of other companies doing the same? suzanne pratt reports. >> reporter: 11,000 jobs are a lot of layoffs, even for a bank as huge as citi. and there could be more. that's because the monster firm is still struggling to recover from the great recession even though it has fired a lot of other workers in the last few years. the thing is, citi has a new c.e.o. in michael corbat, and experts say he's anxious to make his mark, even if that includes cutting staff. and the need to
president obama tries to win over top business leaders, warning republicans are holding the global economy hostage over the fiscal cliff. >> susie: and apple shares get of the most widely owned stocks sees heavy trading. >> tom: that and more tonight on "n.b.r." >> susie: big job cuts today at one of the nation's biggest banks. citigroup announced it's slashing 4% of its staff; that works out to 11,000 jobs worldwide. the cuts will save the bank more than $1 billion...
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Dec 7, 2012
12/12
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i think the economy going to be facing some fiscal drag from the federal side but if it is phased in slowly, it's not really use ter and abrupt i think it can handle it because i think the private sector is healing and i'm looking for improvement in growth for the second half of the year provided that we don't hit a landmine here on the fiscal side. >> all right, josh, thanks some of. we've been speaking with josh feinman of db advisor. >> tom: nearly a month and a half after super-storm sandy wreaked havoc along the new jersey shore, president obama met today with governor chris christie at the white house. the topic-- federal aid for storm recovery. the president is expected to ask congress for about $50 billion in additional emergency assistance. ruben ramirez is in seaside heights, new jersey, where business owners are striving to recover. ruben? >> reporter: thanks, tom. yes, nearly six weeks after super-storm sandy devastated this barrier island off the coast of new jersey, there's still a curfew in place. a lot of the traffic you see behind me is a lot of those longtime reside
i think the economy going to be facing some fiscal drag from the federal side but if it is phased in slowly, it's not really use ter and abrupt i think it can handle it because i think the private sector is healing and i'm looking for improvement in growth for the second half of the year provided that we don't hit a landmine here on the fiscal side. >> all right, josh, thanks some of. we've been speaking with josh feinman of db advisor. >> tom: nearly a month and a half after...